If you want to grow your business, chances are you will need access to finance. But not all finance is created equal. Suppose the thought of putting up your home for security makes you nervous. In that case, we explain the alternative finance options open to business owners. Access to finance is stalling small business… Read more »
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell says an overhaul of lending laws proposed by the Federal Government would offer a necessary funding injection to the small business sector. Under the plan announced today by Treasurer Josh Frydenberg, lending laws will be changed to lift onerous barriers to small businesses applying for… Read more »
Are cash flow gaps preventing you from taking up business opportunities? Kochie’s Business Builders gives you the lowdown on invoice financing and explains why it should be on your radar. Late payments are the bane of small business. As the coronavirus crisis continues to put pressure on the nation’s business owners, concerns around cash flow… Read more »
In Australia, open banking has been a term bounced around in the financial sector since 2017. Only in the last two years we have seen movement, and the Big Four banks (CommBank, NAB, Westpac and ANZ) have begun beta testing since legislation passed in 2019, says Erich Gerber, Senior Vice President, APJ and EMEA, TIBCO… Read more »
35 per cent of Australian small businesses have not heard of the instant asset write-off 46% of small businesses that are aware of the write-off are likely to take advantage of the increased limit of $150,000 One in two (46 per cent) of SMEs that intend to use the instant asset write-off will invest in… Read more »
Whilst health workers are undeniably at the front line of the fight against the COVID-19 pandemic, there is another cohort of silent heroes – accountants and tax agents, writes Wayne Debernardi, General Manager Institute of Public Accountants. The Institute of Public Accountants (IPA) has a large contingent of members in public practice, predominantly small accounting… Read more »
A huge change is already underway in Australia’s banking sector. And, in January, consumers and businesses can finally experience some of its benefits first-hand, writes Steve Kemp, Head of Financial Institutions Partnerships APAC and Emerging Markets, Intuit. Since last year, regulators, Australia’s Big Four banks (NAB, Commonwealth, ANZ and Westpac) and a test working group… Read more »
“It’s the canary in the coal mine,” warns Patrick Coghlan, CEO of CreditorWatch as small business insolvencies rise 20 per cent over the last quarter, an increase of 8 per cent year on year. Coghlan suggests the rise in businesses being declared insolvent doesn’t bode well for the economy. Coghlan’s comments follow the release of… Read more »
Do you have a business plan? You should. They are vital to the success of any business. A great business plan will explain the aims and objectives of your business and help you roadmap your business growth. A business plan can help your business set strategies for years to come and is a useful tool when… Read more »
Despite increasing business confidence, the August 2019 Sensis Business Index has revealed Australia’s small business owners remain concerned by a lack of access to finance.
Research by PayPal Australia has uncovered the nation’s small business owners are moving away from traditional lenders to embrace fintech solutions for their finance.
As the end of financial year approaches, many small business owners are considering taking advantage of the government’s $30k instant asset write-off. For many SMBs this requires access to finance. However, the Reserve Bank of Australia recently reported one in five small businesses struggle to gain finance from a traditional lender, indicating it’s time business… Read more »